MIRA INFORM REPORT

Revised report

Report No. :	306801.2
Report Date :	09.02.2015

IDENTIFICATION DETAILS

Name :	REISS LIMITED

Formerly Known as :	REISS (RETAIL) LIMITED

Registered Office :	235 Old Marylebone Road, London, NW1 5QT

Country :	United Kingdom

Financials (as on) :	31.01.2014

Date of Incorporation :	18.10.1991

Com. Reg. No.:	02655347

Legal Form :	Private limited with Share Capital

Line of Business :	Engaged as Retailers of own brand quality Fashion Menswear, Womenswear and accessories. Subject product ranges includes:- Womenswear Dresses, Coats & Jackets, Knitwear, Tops, Skirts, Suiting, Trousers Jeans, Shoes, Bags, Accessories Menswear Suits & Tailoring, Blazers, Coats & Jackets, Knitwear, Shirts, Tops, Trousers, Jeans, Shoes Accessories Bags, Underwear, Pocket Squares, Ties, Bow, Ties, Belts, Wallets, Hats, Scarves, Gloves, Underwear & Socks

No of Employees :	1174 (31.01.2014)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

United Kingdom ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

Source : CIA

Company Name & ADDRESS

REISS LIMITED

Registered Address

235 OLD MARYLEBONE ROAD
LONDON
NW1 5QT

Head Office Address

Reiss Building
12 Picton Place, London W1U 1BW
Telephone: +44 (0)20 3075 2000
FAX: +44 (0)20 3075 2001

Website Address http://www.reiss.com

Company Summary

Company No: 02655347

Company Status: Active - Accounts Filed

Incorporation Date 18/10/1991

Previous Name REISS (RETAIL) LIMITED

Type Private limited with Share Capital

Date of Change 13/04/2000

Filing Date of Accounts 12/12/2014

Currency GBP

Share Capital £265,810

Principal Activity

Retailers of own brand quality fashion Menswear, Womenswear and accessories.

Subject product ranges includes:-

Womenswear

Dresses, Coats & Jackets, Knitwear, Tops, Skirts, Suiting, Trousers

Jeans, Shoes, Bags, Accessories

Menswear

Suits & Tailoring, Blazers, Coats & Jackets, Knitwear, Shirts, Tops, Trousers, Jeans, Shoes

Accessories

Bags, Underwear, Pocket Squares, Ties, Bow, Ties, Belts, Wallets, Hats, Scarves, Gloves, Underwear & Socks

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/01/2014 £98,281,000 £3,557,000 £17,268,000 1174

31/01/2013 £91,960,000 -£4,798,000 £15,578,000 1085

31/01/2012 £91,060,000 £3,644,000 £20,741,000 1109

Mortgage Summary

Total Mortgage 25

Outstanding 2

Satisfied 23

Commentary

This company has been treated as a Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a highly efficient use of assets.

This company has made late payments on a medium percentage of invoices.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

This company trades in an industry with a moderate level of corporate failures.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -	---
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -	---
Total Number of Satisfied CCJs -	1	Total Value of Satisfied CCJs -	£220

Payment Information

DBT	20	Payment Trend	Stable
Industry DBT	29	Within Terms	---
Number of Experiences	-

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	196	178	83	21	31
Outstanding	0	19	31	2	0

Current Directors

Name	Steven Richard Downes	Date of Birth	21/04/1957
Officers Title	Mr	Nationality	British
Present Appointments	26	Function	Director
Appointment Date	20/10/2000
Address	Reiss Building 12 Picton Place, London, W1U 1BW

Name	David Anthony Reiss	Date of Birth	15/05/1943
Officers Title	Mr	Nationality	British
Present Appointments	23	Function	Director
Appointment Date	23/10/1991
Address	Reiss Building 12 Picton Place, London, W1U 1BW

Name	Debra Reiss	Date of Birth	09/04/1981
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	31/08/2010
Address	Reiss Building 12 Picton Place, London, W1U 1BW

Name	Alison Jacobs	Date of Birth	29/07/1967
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	31/08/2010
Address	Reiss Building 12 Picton Place, London, W1U 1BW

Name	Darren Reiss	Date of Birth	02/08/1971
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	31/08/2010
Address	Reiss Building 12 Picton Place, London, W1U 1BW

Current Company Secretary

Name	Steven Richard Downes	Date of Birth	21/04/1957
Officers Title	Mr	Nationality	British
Present Appointments	26	Function	Company Secretary
Appointment Date	20/10/2000
Address	Reiss Building 12 Picton Place, London, W1U 1BW

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
REISS (HOLDINGS) LTD	GBP	265,810	ORDINARY	1	100

Profit & Loss

Date Of Accounts	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£98,281,000	6.9%	£91,960,000	1%	£91,060,000	4%	£87,568,000	12.7%	£77,683,000
Export	£6,315,000	-0.7%	£6,361,000	19.3%	£5,331,000	1.9%	£5,234,000	13.2%	£4,622,000
Cost of Sales	£35,829,000	5%	£34,138,000	7.5%	£31,755,000	8.2%	£29,346,000	8.1%	£27,151,000
Gross Profit	£62,452,000	8%	£57,822,000	-2.5%	£59,305,000	1.9%	£58,222,000	15.2%	£50,532,000
Wages & Salaries	£19,386,000	4.7%	£18,508,000	5.2%	£17,585,000	10.2%	£15,962,000	11.6%	£14,303,000
Directors Emoluments	£641,000	-5.7%	£680,000	-1.4%	£690,000	23.4%	£559,000	1.3%	£552,000
Operating Profit	£6,337,000	99.3%	£3,180,000	-52.3%	£6,671,000	-21.8%	£8,535,000	98.4%	£4,301,000
Depreciation	£3,930,000	-1.1%	£3,974,000	-12.1%	£4,520,000	-1.6%	£4,593,000	-5.1%	£4,842,000
Audit Fees	£30,000	-	£30,000	7.1%	£28,000	-	£28,000	-	£28,000
Interest Payments	£966,000	-23.6%	£1,265,000	18.2%	£1,070,000	-15.5%	£1,267,000	-26.3%	£1,718,000
Pre Tax Profit	£3,557,000	174.1%	-£4,798,000	-231.7%	£3,644,000	-	£3,644,000	276.8%	-£2,061,000
Taxation	-£1,867,000	-411.5%	-£365,000	49.5%	-£723,000	63.2%	-£1,963,000	-326.7%	-£460,000
Profit After Tax	£1,690,000	132.7%	-£5,163,000	-276.8%	£2,921,000	73.8%	£1,681,000	166.7%	-£2,521,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£1,690,000	132.7%	-£5,163,000	-276.8%	£2,921,000	73.8%	£1,681,000	166.7%	-£2,521,000

Balance Sheet

Date Of Accounts	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Tangible Assets	£26,616,000	-7%	£28,628,000	-1%	£28,913,000	5.3%	£27,465,000	15.9%	£23,707,000
Intangible Assets	£75,000	-30.6%	£108,000	163.4%	£41,000	-18%	£50,000	-15.3%	£59,000
Total Fixed Assets	£26,691,000	-7.1%	£28,736,000	-0.8%	£28,954,000	5.2%	£27,515,000	15.8%	£23,766,000
Stock	£12,129,000	11.6%	£10,873,000	-6.8%	£11,668,000	22.4%	£9,536,000	3.6%	£9,202,000
Trade Debtors	£1,747,000	16.3%	£1,502,000	15.4%	£1,301,000	-36.7%	£2,055,000	-83.4%	£12,353,000
Cash	0	-	0	-	0	-	0	-	0
Other Debtors	£5,508,000	-31.2%	£8,008,000	-12.2%	£9,120,000	44.5%	£6,313,000	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£19,384,000	-4.9%	£20,383,000	-7.7%	£22,089,000	23.4%	£17,904,000	-16.9%	£21,555,000
Trade Creditors	£4,555,000	-18.6%	£5,595,000	-7.6%	£6,054,000	36.5%	£4,436,000	-4.6%	£4,648,000
Bank Loans & Overdrafts	£6,972,000	-39.6%	£11,535,000	19%	£9,695,000	48.1%	£6,546,000	-34.7%	£10,017,000
Other Short Term Finance	£492,000	6%	£464,000	127.5%	£204,000	-72.5%	£741,000	-16.3%	£885,000
Miscellaneous Current Liabilities	£15,271,000	10%	£13,882,000	6.1%	£13,087,000	-4.6%	£13,723,000	29.1%	£10,632,000
Total Current Liabilities	£27,290,000	-13.3%	£31,476,000	8.4%	£29,040,000	14.1%	£25,446,000	-2.8%	£26,182,000
Bank Loans & Overdrafts and LTL	£8,489,000	-37.6%	£13,600,000	24.1%	£10,957,000	26%	£8,699,000	-33.2%	£13,017,000
Other Long Term Finance	£1,332,000	-24.9%	£1,774,000	40.6%	£1,262,000	-13.1%	£1,452,000	-31.5%	£2,119,000
Total Long Term Liabilities	£1,517,000	-26.5%	£2,065,000	63.6%	£1,262,000	-41.4%	£2,153,000	-28.2%	£3,000,000

Capital & Reserves

Date Of Accounts	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Called Up Share Capital	£266,000	-	£266,000	-	£266,000	-	£266,000	-	£266,000
P & L Account Reserve	£17,002,000	11%	£15,312,000	-25.2%	£20,475,000	16.6%	£17,554,000	10.6%	£15,873,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£17,268,000	10.8%	£15,578,000	-24.9%	£20,741,000	16.4%	£17,820,000	10.4%	£16,139,000

Other Financial Items

Date Of Accounts	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Net Worth	£17,193,000	11.1%	£15,470,000	-25.3%	£20,700,000	16.5%	£17,770,000	10.5%	£16,080,000
Working Capital	-£7,906,000	28.7%	-£11,093,000	-59.6%	-£6,951,000	7.8%	-£7,542,000	-63%	-£4,627,000
Total Assets	£46,075,000	-6.2%	£49,119,000	-3.8%	£51,043,000	12.4%	£45,419,000	0.2%	£45,321,000
Total Liabilities	£28,807,000	-14.1%	£33,541,000	10.7%	£30,302,000	9.8%	£27,599,000	-5.4%	£29,182,000
Net Assets	£17,268,000	10.8%	£15,578,000	-24.9%	£20,741,000	16.4%	£17,820,000	10.4%	£16,139,000

Miscellaneous

Date Of Accounts	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
Capital Employed	£18,785,000	6.5%	£17,643,000	-19.8%	£22,003,000	10.2%	£19,973,000	4.4%	£19,139,000
Number of Employees	1174	8.2%	1085	-2.2%	1109	4.3%	1063	8.2%	982

Auditors	WILDER COE LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	BARCLAYS BANK PLC
Bank Branch Code	20-00-00

Ratios

Date Of Accounts	31/01/14	31/01/13	31/01/12	31/01/11	31/01/10
Pre-tax profit margin %	3.62	-5.22	4	4.16	-2.65
Current ratio	0.71	0.65	0.76	0.70	0.82
Sales/Net Working Capital	-12.43	-8.29	-13.10	-11.61	-16.79
Gearing %	49.20	87.30	52.80	48.80	80.70
Equity in %	37.50	31.80	40.70	39.30	35.70
Creditor Days	16.87	22.14	24.20	18.43	21.77
Debtor Days	6.47	5.94	5.20	8.54	57.88
Liquidity/Acid Test	0.26	0.30	0.35	0.32	0.47
Return On Capital Employed %	18.93	-27.19	16.56	18.24	-10.76
Return On Total Assets Employed %	7.72	-9.76	7.13	8.02	-4.54
Current Debt Ratio	1.58	2.02	1.40	1.42	1.62
Total Debt Ratio	1.66	2.15	1.46	1.54	1.80
Stock Turnover Ratio %	12.34	11.82	12.81	10.88	11.84
Return on Net Assets Employed %	20.59	-30.79	17.56	20.44	-12.77

Event History

Date	Description
23/12/2014	New Accounts Filed
23/12/2014	New Accounts Filed
24/10/2014	Annual Returns
11/01/2014	New Accounts Filed
25/10/2013	Annual Returns
06/05/2013	Mr L.F. Marco has left the board
26/01/2013	New Accounts Filed
26/01/2013	New Accounts Filed
29/10/2012	Annual Returns
08/12/2011	New Accounts Filed
08/12/2011	New Accounts Filed
26/11/2011	Annual Returns
21/01/2011	New Accounts Filed
07/12/2010	Annual Returns
26/11/2010	New Board Member Mr D. Reiss appointed

Previous Company Names

Date	Previous Name
13/04/2000	REISS (RETAIL) LIMITED
27/11/1991	PINETAPE LIMITED

Statistics

Group	6 companies
Linkages	1 companies
Countries	In 1 countries

Summary

Holding Company	REISS (HOLDINGS) LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	REISS (HOLDINGS) LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
REISS (HOLDINGS) LIMITED	03692285	31.01.2014	Y	£115,936,000
REISS (RETAIL) LIMITED	02487563	31.01.2014	N	£10,857,000
REISS LIMITED	02655347	31.01.2014	N	£98,281,000
REISS (INTERNATIONAL)...	05477043	31.01.2014	N
REISS (SWEDEN) LIMITED	08194756	31.08.2013	N
REISS (CANADA) LIMITED	09183265	-	N

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
13/02/2014	COUNTY COURT BUSINESS CENTRE	£220	Satisfied	A1QZ1031	01/12/2014

Possible CCJs Details

There are no possible CCJ details

Mortgage Details

Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	30/10/09
Date Charge Registered:	04/11/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE COMPANIES NAMED THEREIN TOTHE CHARGEE ON ANYACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY
Mortgage Type:	MORTGAGE
Date Charge Created:	09/10/06
Date Charge Registered:	17/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND;
Amount Secured:
Details:	67 EAST STREET BRIGHTON TOGETHER WITH ALL BUILDINGS AND FIXTURES AND FIXED PLANT AND MACHINERY.THE BENEFIT OF ALL GUARANTEES INDEMNITIES RENT DEPOSITS.BY WAY OF ASSIGNMENT THE GOODWILL OF THE BUSINESS AND ALL MONIES DUE IN RELATION TO CONTRACTS OR POLICIES OF INSURANCE

Mortgage Type:	RENT DEPOSIT DEED
Date Charge Created:	11/04/05
Date Charge Registered:	17/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	DONNA DARAN MANAGEMENT COMPANY UK LIMITED;
Amount Secured:
Details:	A RENT DEPOSIT OF £85,771
Mortgage Type:	RENT DEPOSIT DEED
Date Charge Created:	28/10/04
Date Charge Registered:	17/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	DONNA KARAN MANAGEMENT COMPANY UK LIMITED;
Amount Secured:
Details:	A RENT DEPOSIT OF £85,771

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	18/10/02
Date Charge Registered:	17/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND;
Amount Secured:
Details:	L/H PROPERTY K/A 7 AND 9 TRYON STREET CHELSEA LONDON IN THE L/B OF KENSINGTON &CHELSEA T/NO: NGL633247FIXED CHARGE ALL BUILDINGS AND OTHER STRUCTURES FIXED TO THE PROPERTY FIXED CHARGE ANY GOODWILL RELATING TO THE PROPERTY FIXED CHARGE ALL PLANT MACHINERY AND OTHER ITEMS AFFIXED TO THE PROPERTY ASSIGNMENT OF THE RENTAL SUMS TOGETHER WITH THE BENEFIT OF ALL RIGHTS AND REMEDIES FIXED CHARGE THE PROCEEDS OF ANY CLAIM MADE UNDER INSURANCE POLICY RELATING TO THEPROPERTY FLOATING CHARGE ALL UNATTACHEDPLANT MACHINERY CHATTELS AND GOODS ON OR IN OR USED IN CONNECTION WITH THE PROPERTY OR THE BUSINESS OR UNDERTAKING AT THE PROPERTY
Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	21/09/00
Date Charge Registered:	10/10/00
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	CHARGE
Date Charge Created:	12/04/99
Date Charge Registered:	14/04/99
Date Charge Satisfied:	29/10/09
Status:	SATISFIED
Person(s) Entitled:	DAVID ANTHONY REISS AND WOLANSKI & CO TRUSTEES LIMITED AS TRUSTEES OF THE REISS PENSION PLAN
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	114/116 KINGS ROAD AND 4 & 6 TRYON STREET LONDON SW3; GROUND FLOOR AND BASEMENTSHOP PREMISES AT 245REGENT STREET LONDON W1; BASEMENT GROUND FIRST AND SECOND FLOOR PREMISES AND THE FIRST FLOOR EXTENSION K/A 46 KING STREET MANCHESTER.FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	DEBENTURE
Date Charge Created:	08/03/99
Date Charge Registered:	19/03/99
Date Charge Satisfied:	19/01/01
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	SUPPLEMENTAL DEED
Date Charge Created:	19/01/99
Date Charge Registered:	17/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	NORWICH UNION MORTGAGE FINANCE LIMITED,AS TRUSTEE FOR ITSELF AND ANY OTHER LENDER;
Amount Secured:
Details:	(I) F/HOLD LAND KNOWN AS 67 EAST STREETAND 48A OLD STEINE BRIGHTON; ESX 103253; (II) L/HOLD LAND - 67 EAST ST,BRIGHTON- ESX 134755 WITH ALL BUILDINGS,FIXTURES,PLANT,MACHINERY THEREON; ALL RIGHTS,LICENCES,TENANCIES,AGREEMENTS,ETCSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	27/07/98
Date Charge Registered:	29/07/98
Date Charge Satisfied:	10/10/14
Status:	SATISFIED
Person(s) Entitled:	THE COUNCIL OF THE CITY OF NEWCASTLE UPON TYNE;
Amount Secured:
Details:	133,135 & 137 GRAINGER STREET AND 3 & 5NELSON STREET NEWCASTLE UPON TYNE

Mortgage Type:	RENTAL DEPOSIT DEED
Date Charge Created:	24/04/98
Date Charge Registered:	17/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	THE WARDENS AND COMMONALTY OF THE MYSTERY OF MERCERS OF THE CITY OF LONDON;
Amount Secured:
Details:	£22,500 PURSUANT TO THE DEED
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	23/04/97
Date Charge Registered:	24/04/97
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	THE PROPERTY AT 46 KING STREET MANCHESTER (LEASEHOLD) WITH THE BENEFIT OF ALL RIGHTS,LICENCES,GUARANTEES,ANY GOODWILL OF ANY BUSINESS,ANY RENTAL AND OTHER MONEY AND ALL OTHER PAYMENTS SEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEED OF LEGAL CHARGE
Date Charge Created:	28/02/97
Date Charge Registered:	07/03/97
Date Charge Satisfied:	27/03/08
Status:	SATISFIED
Person(s) Entitled:	NORWICH UNION MORTGAGE FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND ANY GROUP MEMBER (AS DEFINED) TO THE CHARGEE ASTRUSTEE FOR ITSELFAND THE OTHER LENDERS (AS DEFINED) ON ANY ACCOUNT WHATSOEVER
Details:	ALL THAT F/H LAND K/A 114/116 KING\S ROAD AND 4 AND 5 TYRON STREET CHELSEA SW3 4TX IN THE LONDON BOROUGH OF KENSINGTON AND CHELSEA 105478 ALL MONIES DEPOSITED WITH THE TRUSTEE ON THE TERMS SET OUT INSCHEDULE 6 TO THE DEED AND BY WAY OF FLOATING CHARGE ALL THE COMPANY\S PROPERTYASSETS RIGHTS AND REVENUES SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	11/02/97
Date Charge Registered:	25/02/97
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	LEASEHOLD PROPERTY K/A 2/6 CORPORATION STREET AND 32A NEW STREET BIRMINGHAM WITH THE BENEFIT OF ALLRIGHTS LICENCES GUARANTEES ANY GOODWILL OF ANY BUSINESS ANYRENTAL AND ALL OTHER PAYMENTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEED OF RENTAL DEPOSIT
Date Charge Created:	06/12/96
Date Charge Registered:	10/12/96
Date Charge Satisfied:	10/10/14
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK TRUST COMPANY LIMITED;
Amount Secured:
Details:	ALL SUMS TO BE PAID BY THE COMPANY TO THE LANDLORD PURSUANT TO THE COVENANT ON THE PART OF THE COMPANY CONTAINED IN THEDEED OF RENTAL DEPOSIT AMOUNITNG IN AGGREGATE TO £225,000
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	04/04/96
Date Charge Registered:	05/04/96
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	114-116 KINGS ROAD AND 4 & 6 TRYON STREET, LONDON WITH THE BENEFIT OF ALL RIGHTS ETC., ANY GOODWILLOF ANY BUSINESS, ANY RENTAL AND ALL OTHER PAYMENTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEED OF RENT DEPOSIT
Date Charge Created:	30/01/96
Date Charge Registered:	17/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	RUMSON ASSET MANAGEMENT LIMITED;
Amount Secured:
Details:	£5000
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	04/01/96
Date Charge Registered:	25/01/96
Date Charge Satisfied:	27/03/08
Status:	SATISFIED
Person(s) Entitled:	NORWICH UNION MORTGAGE FINANCE LIMITED
Amount Secured:	£2,700,000 DUE FROM THE COMPANY TO THE CHARGEE
Details:	ALL THAT F/H LAND AND BUILDINGS K/A 114116 KINGS ROAD CHELSEA T/N 105478 AND BY WAY OF FLOATING CHARGE ALL THE COMPANY\S UNDERTAKING AND ALL IT\S PROPERTY ANDASSETS AND RIGHTS SEE THE MORTGAGE CHARGEDOCUMENT FOR FULL DETAILS

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	16/01/96
Date Charge Registered:	17/01/96
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	116 LONGACRE LONDON WC2 ANY SHARES OR MEMBERSHIP RIGHTS ANY GOODWILL OF ANY BUSINESS ANY RENTAL ANDOTHER MONEY PAYABLEALL OTHER PAYMENTS IN RESPECT OF THE PROPERTY TOGETHER WITH ALL FIXTURES AND FITTINGS NOW OR AT ANY TIME HEREAFTER ON THE PROPERTY. THE BENEFITS OF ALL RIGHTS LICENCES AND THE GOODWILL OF THE MORTGAGOR INRELATION TO THE BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	16/01/96
Date Charge Registered:	17/01/96
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	PROPERTY AT 245 REGENTS STREET LONDON W1 ANY SHARES OR MEMBERSHIP RIGHTS ANY GOODWILL OF ANY BUSINESS ANY RENTAL AND OTHER MONEY PAYABLE ALL OTHER PAYMENYTS INRESPECT OF THE PROPERTY TOGETHER WITH ALLFIXTURES AND FITTINGS NOW OR AT ANY TIME HEREAFTER ON THE PROPERTY. THE BENEFITS OF ALL RIGHTS LICENCES AND THE GOODWILL OF THE MORTGAGOR INRELATION TO THE BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	16/01/96
Date Charge Registered:	17/01/96
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	32A NEW STREET BIRMINGHAM ANY SHARES ORMEMBERSHIP RIGHTS ANY GOODWILL OF ANY BUSINESS ANY RENTAL ANDOTHER MONEY PAYABLE ALL OTHER PAYMENTS TOGETHER WITH ALL FIXTURES AND FITTINGS NOW OR AT ANY TIME HEREAFTER ON THE PROPERTY. THE BENEFITS OF ALL RIGHTS LICENCES AND THE GOODWILL OF THE MORTGAGOR INRELATION TO THE BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	16/01/96
Date Charge Registered:	17/01/96
Date Charge Satisfied:	06/06/97
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	46 KING STREET MANCHESTER ANY SHARES ORMEMBERSHIP ANY GOODWILL OF ANY BUSINESSANY RENTAL AND OTHER MONEY PAYABLE ALL OTHER PAYMENTS TOGETHER WITH ALL FIXTURES AND FITTINGS NOW OR AT ANY TIME HEREAFTERON THE PROPERTY. THE BENEFITS OF ALL RIGHTS LICENCES AND THE GOODWILL OF THE MORTGAGOR INRELATION TO THE BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY

Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	09/11/95
Date Charge Registered:	30/11/95
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL GOODWILL BOOKDEBTS AND PATENTS
Mortgage Type:	DEED OF DEPOSIT
Date Charge Created:	08/07/94
Date Charge Registered:	29/07/94
Date Charge Satisfied:	13/02/99
Status:	SATISFIED
Person(s) Entitled:	CHELSEA BUILDING SOCIETY
Amount Secured:	AS SECURITY FOR MONEY PAYABLE BY THE COMPANY TO THE CHARGEE IN THE EVENT OF DEFAULT
Details:	£7,875

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	13/04/92
Date Charge Registered:	23/04/92
Date Charge Satisfied:	08/01/96
Status:	SATISFIED
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	LEGAL MORTGAGE OVER46 KING ST,MANCHESTER,32 NEW ST AND 2/6ACORPORATION ST,BIRMINGHAM,116 LONG ACRE,COVENT GARDEN,LONDON WC2,114/116 KINGS ROAD,LONDON SW3AND PROCEEDS OF SALE THEREOF A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALLPROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Jonathan Webber	0	1
Amanda Jane Romain Mcqueen Hewitt	0	7
Michael Patrick Dunne	3	3
Alan David Salmon	0	2
Laurie Faith Marco	0	3
MBC NOMINEES LIMITED	568	8294
MBC SECRETARIES LIMITED	567	8292
Average Invoice Value		£652.39
Invoices available		561
Paid		509
Outstanding		52

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	196	178	83	21	31
Outstanding	0	19	31	2	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.74
UK Pound	1	Rs.94.65
Euro	1	Rs.70.79

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	MNL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Name		Number	Latest Key Financials
REISS HOLLAND B.V.		54452732	31.01.2013